MAM
Insurtech Startups Tap AI and Analytics to Personalise Overseas Travel Cover for Indian Families
The insurance industry is facing a paradigm shift in the era of digitisation. They are no longer following the traditional form of underwriting and formlessness of policies. New start-up insurtech companies are using Artificial Intelligence (AI), data analytics and automation to design custom protection for travellers.
One of the most striking changes is happening in the sphere of international travel insurance for family, where the trend towards personalisation has become the characteristic feature of the modern insurance design. For Indian families who want to go on vacations in other countries, this is changing the way in which they travel across borders.
The Rise of Personalised Travel Protection
Travel insurance policies used to be quite similar, and they had standard benefits that showed gaps in coverage. The needs of the modern traveller are, however, by no means similar. Families can now be composed of older parents who are vulnerable to medical conditions and young children who need emergency attention, or even professionals who want to have convenient digital claim settlement.
The insurtech startups have realised this variety and are currently creating flexible data-driven and adaptable policy structures that are responsive to the risk profile of the individual members of the family.
AI-Powered Underwriting: Precision Meets Protection
The foundation of the contemporary international travel insurance for family has been transformed into AI-driven underwriting. Conventionally, underwriting was based on very stagnant data, and there could be a possibility of error or overestimation of the risks. Modern insurtech solutions rely on sophisticated algorithms that process real-time data points such as travel destination health alerts, age-dependent health risk scores, and others to provide accurate coverage suggestions.
As an example, a family that visits areas with very specific climatic conditions can get automatic recommendations regarding increased medical insurance coverage or hospital cash. Equally, families with infants or elderly citizens can be provided with extended emergency evacuation benefits and medical repatriation benefits. Such a level of customisation makes sure that all members of the family are appropriately covered in terms of their needs and conditions.
Enhanced Medical and Emergency Benefits
The most characteristic feature of an excellent travel policy is that it must be able to react to unexpected accidents in a foreign country. The current travel insurance products offered by insurtech providers come with an all-inclusive set of benefits, not limited to traditional hospitalisation services. This ensures your vacation is hassle-free.
These include coverage on emergency medical costs, including the cost of renting a room in a hospital, outpatient care and ambulance expenses. When the situation becomes critical, the policy will cover the medical evacuation, repatriation and even the cost of transferring the dependent minor back to India. Moreover, dental emergency coverage, as an aspect that was not initially taken into consideration, is now being easily incorporated into family plans, so that dental care is given as much consideration as any other medical issue.
Financial Protection and Emotional Security
Financial safety nets are being redefined by insurtech startups that use AI to process claims and provide real-time distress help. The personal accident cover is one of such innovations that is a payout given in a lump sum in case of accidental death or permanent disablement. Also, a common carrier accident benefit is contained in some policies to enhance financial security in the event of air, rail or road accidents.
New-age insurers have also come in to offer services such as hijack distress allowances and emergency cash assistance services in order to solve the emotional stress relating to emergencies. These features also allow travellers to have fast access in cases like theft, cash loss or any delays due to hijacks, which helps reduce inconvenience and anxiety.
Digital Transformation and Seamless Experience
Among the most apparent effects of AI in the insurance ecosystem, one can distinguish the streamlining of processes. All the way to instant issuance of policies to paperless claim settlements, AI chatbots and predictive analytics will provide a family with uninterrupted support during the process. Fraud detection systems that are data-driven can ensure that claims are processed fairly, as automated alerts and claim tracking systems allow real-time updates.
Although startups have been the source of the innovation wave, the well-established insurers offer the support of reliability and a network across the world. An example is HDFC ERGO, one of India’s leading general insurers, providing the best coverage to families travelling to foreign countries.
Conclusion
The way forward from here is empathy combined with intelligence. Insurtech startups are not simply digitising the traditional models; they are humanising them with insight and personal care. These AI-powered protections that accompany families to foreign shores provide them with the guarantee that, although their journeys can be unpredictable, their peace of mind will prevail no matter the situation.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
